Westminster, CA , Nov. 14, 2017 (GLOBE NEWSWIRE) -- BioLargo, Inc., (OTCQB: BLGO; www.biolargo.com), a sustainable science, technology and full-service environmental engineering company that delivers practical solutions for clean water, clean air and advanced wound care, announced today the achievement of a series of noteworthy milestones, as reported in its quarterly report (click here) filed with the Securities and Exchange Commission. Highlights include:
CupriDyne Clean Industrial Odor Control
- The company is actively servicing “national purchasing agreements” with three leaders in the solid waste handling industry, and product sales are increasing.
- In 2017, product sales have increased each quarter – from approximately $50,000 in the first quarter, to almost $100,000 in the second, and $170,000 in this last quarter, representing approximately a 100% increase from Q1 to Q2, and a 70% increase in sales from Q2 to Q3.
- The company is actively engaged in multiple odor-control trials in the wastewater treatment industry and is enjoying early success with municipal clients.
- More than just delivering products, the company is working directly with clients to evaluate and assist in the use and design of various delivery methods and systems to help solve odor related problems.
- The addition of the company’s in-house engineering team is allowing us to expand our capabilities and open new opportunities with existing and new clients.
Clyra Medical
- On September 27, 2017, Clyra submitted an application for premarket notification under Section 510(k) for a wound care product. It is now in the formal 90-day review process by the FDA which is expected to conclude before years end.
- Clyra closed a private securities offering of its common shares and accepted $1,000,000 in subscriptions, of which BioLargo invested $250,000 into Clyra.
- Clyra’s management is actively engaged in arranging for clinical work and is in discussions with a number of potential strategic partners.
BLEST Engineering
- In September 2017, the company commenced a full service in-house environmental engineering firm and formed a wholly owned subsidiary named BioLargo Engineering, Science & Technologies, LLC.
- The company’s first client is a CB&I spin off that provides engineering services worldwide, and they have already started providing services to local utilities.
- BLEST is active evaluating, bidding on, negotiating, and generally pursing other substantial commercial opportunities.
BioLargo Water
- Our AOS (Advanced Oxidation System) and our R & D team has been awarded more than 50 research grants from various Canadian public and private agencies, including the Canadian National Research Council – Industrial Research Assistance Program (NRC-IRAP) and the National Science and Engineering Research Council of Canada (NSERC).
- Through a project funded by a grant from the Metropolitan Water District of Southern California pursuant to its Innovative Conservation Program, we confirmed the technical capabilities of our AOS system to disinfect and decontaminate poultry, dairy and municipal tertiary effluent wastewater. The company’s next step is to engineer a higher volume and robust system for use in an onsite commercial pilot. Work is underway.
Company Highlights
- To help provide growth capital to the Company, BioLargo has entered into a purchase agreement for up to $10 million of equity capital, subject to certain terms and conditions. (See Form 8-K here).
- All but $50,000 of the company’s $6.3 million debt obligations are convertible into common stock.
- The company was awarded “Best Horizontal Disruption” High Tech Innovation Award by OCTANe (Orange County’s technology and life sciences accelerator organization) at its 24th annual award ceremony. (OCTANe press release here.)
- The company’s team members were also honored presenters and award winners at multiple industry related conferences including the Metropolitan Water District of Southern California’s Agriculture and Industry Relations Committee meeting, Bluetech Week in San Diego sponsored by The Maritime Alliance, an international trade mission hosted by the Canadian Embassy and Consulate in Beijing and Guangzhou that was sponsored by NRC-IRAP (National Research Council of Canada), the Uptick Newswire “Uppie Award” for the “Most Promising Technology Growth” for 2017 and our CEO “Best CEO of the Year.” The company was also honored to be the Title Sponsor along with Metropolitan Water District of Southern California at Sustain OC’s recent Water Solutions 2 conference held at UC Irvine’s Applied Innovation Center in Irvine, California.
Dennis P. Calvert, President and CEO of BioLargo commented, “We are enjoying the flywheel effect and its momentum is powerful. We are often reminded that our continued focus on our worthy mission to Make Life Better through innovation as well as our continued ability to attract exceptionally qualified talent and the continued support of our investors and public funding sources are all critical components to our continued success. Technologies like ours can be a catalyst for change for good and we are a living testimony to the power of innovation combined with purpose for the greater good. In many ways we are just getting started and we can’t wait for tomorrow. I encourage our stakeholders to read the entire quarterly report for a complete understanding of the highlights listed in this press release.”
About BioLargo, Inc.
BioLargo, Inc. is a sustainable science, technology and full-service environmental engineering company that makes life better by delivering world-class products and services across a broad range of industries, with a drive to deliver clean water, clean air and advanced wound care. More information can be found about the company at www.BioLargo.com. Its engineering division (www.BioLargoEngineering.com) features an exceptional team of experienced specialists dedicated to integrity, reliability, safety, and environmental stewardship. It water division (www.BioLargoWater.com) showcases its emerging technology, the Advanced Oxidation System “AOS”, an award-winning product, having been awarded more than 35 research grants and counting, specifically designed to eliminate common, troublesome, and dangerous contaminants in water in a fraction of the time and cost of current technologies. Its odor division features sustainable odor elimination products including its CupriDyne Clean (www.CupriDyne.com) Industrial Odor Eliminator, a product currently serving the leading solid waste handling and wastewater treatment companies as well as any industry that that contends with malodors, VOC’s or similar air quality related problems. Its personal care product division features products in the pet, equine, military supply and consumer markets, and include the Nature’s Best Solution® and Deodorall® brands (www.OdorNoMore.com). Its medical division (www.ClyraMedical.com) focuses on advanced wound care management, featuring effective and gentle solutions for chronic infected wounds and other uses to promote infection control and regenerative tissue therapy. BioLargo also owns a 50% interest in the Isan System, a fully automated iodine dosing system being commercialized under a license to Clarion Water, Inc (www.ClarionWater.com).
Safe Harbor Statement
The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, the risks and uncertainties included in BioLargo’s current and future filings with the Securities and Exchange Commission, including those set forth in BioLargo’s Annual Report on Form 10-K.
Source: Uptick Newswire